Saudi Arabian gaming and esports company, Savvy Games Group (SGG), has announced the acquisition of mobile game developer, Scopely, for $4.9bn (~£3.9bn). The acquisition, subject to regulatory approval, is set to strengthen the position of Savvy Games Group in the global gaming and esports markets.
Scopely, founded in 2011, has a diverse range of mobile games in its portfolio, including board games such as Scrabble and collaborations with the likes of Marvel and WWE. The developer has offices across the United States, Europe, and Asia. The acquisition from SGG will provide Scopely with long-term, patient financial backing to consolidate its position within the mobile gaming sector, alongside executing plans to extend its services to new platforms.
The acquisition from SGG is part of its plans to align with Saudi Arabia’s Vision 2030 project, which aims to create job opportunities and economic growth within the Kingdom. This is the second major investment from the company this year, with a $265m (~£212.6m) investment in Chinese esports tournament operator VSPO, making it the largest equity holder. Moreover, Savvy Games Group is also the owner of esports tournament goliath ESL FACEIT Group.
Brian Ward, CEO of Savvy Games Group, expressed his excitement for the deal, stating that Scopely is one of the fastest-growing games companies today and that SGG’s mission is to invest in and grow the global games community by inviting the best minds to join the company. He added that Scopely has proven to be an exceptional leader and will continue to revolutionize the future of games for years to come.
The acquisition of Scopely comes at a time of growth and investment in the gaming and esports industries, with many companies looking to expand their portfolios and strengthen their positions in the market. With mobile gaming becoming increasingly popular, especially during the COVID-19 pandemic, it is no surprise that companies are looking to invest heavily in the sector.
This acquisition is a significant move for SGG and Scopely, and it will be interesting to see how the two companies work together to revolutionize the future of gaming. The deal is expected to close in the coming months, subject to regulatory approval.